Melinta Therapeutics, Inc. (NASDAQ:MLNT) has earned an average recommendation of “Buy” from the ten analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $12.30.
Several research analysts have weighed in on the stock. Gabelli raised shares of Melinta Therapeutics from a “hold” rating to a “buy” rating and set a $11.50 price target on the stock in a report on Monday. They noted that the move was a valuation call. HC Wainwright lowered their price target on shares of Melinta Therapeutics from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Monday. ValuEngine raised shares of Melinta Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Zacks Investment Research cut shares of Melinta Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. Finally, Jefferies Financial Group assumed coverage on shares of Melinta Therapeutics in a report on Tuesday, September 11th. They issued a “buy” rating and a $15.00 price target on the stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Highbridge Capital Management LLC bought a new position in Melinta Therapeutics in the first quarter valued at approximately $108,000. California State Teachers Retirement System lifted its holdings in shares of Melinta Therapeutics by 48.5% during the first quarter. California State Teachers Retirement System now owns 23,035 shares of the biotechnology company’s stock worth $170,000 after purchasing an additional 7,520 shares during the period. Boenning & Scattergood Inc. lifted its holdings in shares of Melinta Therapeutics by 101.1% during the third quarter. Boenning & Scattergood Inc. now owns 47,750 shares of the biotechnology company’s stock worth $189,000 after purchasing an additional 24,000 shares during the period. Granite Investment Partners LLC bought a new stake in shares of Melinta Therapeutics during the second quarter worth about $221,000. Finally, Franklin Street Advisors Inc. NC increased its position in shares of Melinta Therapeutics by 411.1% during the third quarter. Franklin Street Advisors Inc. NC now owns 64,650 shares of the biotechnology company’s stock worth $255,000 after acquiring an additional 52,000 shares in the last quarter. 69.40% of the stock is currently owned by institutional investors.
Melinta Therapeutics (NASDAQ:MLNT) last released its quarterly earnings results on Tuesday, August 7th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.14) by ($0.24). The company had revenue of $12.02 million during the quarter, compared to the consensus estimate of $12.06 million. Melinta Therapeutics had a negative net margin of 348.51% and a negative return on equity of 67.60%. As a group, equities analysts forecast that Melinta Therapeutics will post -3.98 earnings per share for the current year.
Melinta Therapeutics Company Profile
Melinta Therapeutics, Inc, a commercial-stage pharmaceutical company, discovers, develops, and commercializes various anti-infectives for the treatment of bacterial infectious diseases in North America. It offers Baxdela, an antibiotic for the treatment of acute bacterial skin and skin structure infections (ABSSSI); Vabomere, a carbapenem used in treatment of gram-negative infections; Orbactiv, an antibiotic of the lipoglycopeptide class for the treatment of adult patients with ABSSSIs; and Minocin, a IV antibiotic of the tetracycline class with activity against gram-positive and gram-negative pathogens, as well as Solithromycin, a macrolide antibiotic for the treatment of CABP.
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